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To get the most benefit from a patent, you need a business plan for making money from it. If only a few people will buy your invention, the cost of getting and keeping a granted patent could be more than the money you will make.

You also need to ensure you have the finances available to defend it against copying.

The Intellectual Property Office (IPO) can’t help you enforce your patent. It is your responsibility to do this and ensure it is properly protected. Any legal action you take will need to be started by and funded by you.

Not all patents have a financial value

A 2005 study suggested that over half the value of all patents, lies in less than 1% of patents. The more valuable patents are likely to be found in the biochemistry and pharmaceutical industry.

You need to be sure that the potential for making a profit outweighs the time, effort and money it takes to get and maintain a patent. You also need to make sure that the protection a patent offers would help prevent copying in the markets you are interested in.

Don’t try to patent an invention that isn’t new

Before wasting large amounts of time and money, search patent databases and the internet. This will help you decide if someone else has already made your invention.

It is also possible that after the grant of a patent, some proof may be found that shows your invention was already known (known as ‘prior art’). If this happens, your patent will be invalid.

Speak to an Intellectual Property (IP) professional

Your chances of obtaining a useful patent are much greater if you use a patent attorney. They will use their specialist skills to draft the application properly.

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